19 November 2023

NT signs MoU with Korean company to develop green energy project

| Andrew McLaughlin
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Samsung C&T President and CEO of Engineering and Construction Group Sechul Oh and NT Chief Minister Natasha Fyles at the MoU signing. Photo: Facebook.

The Northern Territory Government has signed a Memorandum of Understanding with Korean industrial giant Samsung C&T Corporation Engineering and Construction to develop a large-scale renewable energy generation, transmission and storage project.

Chief Minister Natasha Fyles said the Northern Territory’s abundant solar resources and geographic location positioned it well to meet the growing demand for green energy in Asia and the Pacific.

The project will include photovoltaic, wind, hydrogen and battery energy storage systems, while Samsung C&T also intends to establish a manufacturing hub as part of the project.

The Chief Minister said a working group comprised of Samsung C&T and the NT Government would be established under the MoU to scope and investigate the feasibility of the project.

The MoU will operate for two years during which suitable locations for the project will be identified. She said the Middle Arm Sustainable Development Precinct was one of the locations under consideration.

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“Renewable energy makes economic and environmental sense,” Chief Minister Fyles said.

“Signing today’s green energy MOU with Samsung C&T is a key step towards creating local jobs and significantly contributing to the Territory’s drive to become a hub for low emissions sustainable manufacturing.

“The MOU sets out how the NT Government and Samsung C&T will work collaboratively to explore options and conduct feasibility investigations including how we can facilitate this project being built in the Territory,” she added.

“Samsung knows what Territorians know, our solar irradiance and proximity to Asia makes this the ideal place to invest in a green energy future.”

Samsung C&T President and CEO of Engineering and Construction Group Sechul Oh said the company was committed to global industry decarbonisation, leveraging the exceptional resources in the Northern Territory.

“The MOU establishes a collaborative partnership for building a prime hub dedicated to green energy production,” he said. “Together, we aim to decarbonise Australia and South Korea and contribute to the development of a sustainable economy.”

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